Westbourne Investment Advisors Inc. acquired a new stake in Ferguson plc (NYSE:FERG – Free Report) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 28,768 shares of the company’s stock, valued at approximately $6,710,000. Ferguson comprises approximately 2.0% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raiffeisen Bank International AG increased its holdings in shares of Ferguson by 350,745.0% in the 4th quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock valued at $116,382,000 after acquiring an additional 522,610 shares during the last quarter. Kinetic Partners Management LP increased its stake in Ferguson by 53.4% in the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock valued at $78,378,000 after purchasing an additional 121,500 shares during the last quarter. Marsico Capital Management LLC purchased a new position in Ferguson in the fourth quarter valued at approximately $11,017,000. Fieldview Capital Management LLC acquired a new stake in Ferguson during the third quarter worth approximately $3,258,000. Finally, Swiss Life Asset Management Ltd lifted its position in shares of Ferguson by 68.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 82,169 shares of the company’s stock worth $18,454,000 after buying an additional 33,245 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Ferguson Stock Performance
Shares of NYSE FERG traded down $6.60 during midday trading on Tuesday, reaching $222.32. 323,640 shares of the company were exchanged, compared to its average volume of 1,381,366. The stock has a market cap of $43.12 billion, a P/E ratio of 25.85, a PEG ratio of 1.63 and a beta of 1.13. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The stock has a fifty day simple moving average of $235.17 and a 200 day simple moving average of $240.34. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68.
Ferguson declared that its board has initiated a stock buyback program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Ferguson Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be paid a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s payout ratio is 41.40%.
Analysts Set New Price Targets
FERG has been the subject of several research analyst reports. The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and lowered their target price for the company from $315.00 to $265.00 in a report on Monday. Wells Fargo & Company upped their price objective on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Barclays boosted their target price on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $276.61.
Check Out Our Latest Research Report on FERG
Ferguson Company Profile
Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.
Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.
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